German Chancellor Angela Merkel has reportedly suggested to Greek President Karolos Papoulias that a referendum on Greece's position in the eurozone be held at the same time as the nation's second elections on June 17.

Athens -
Greek President Karolos Papoulias is to meet with party leaders at noon on May 13, in a last ditch attempt to form a coalition government. If his attempts fail then the country will go to second elections in June.

Athens -
Alexis Tsipras, leader of the far-left political party Syriza, has failed in his attempt to form a coalition government. The mandate to form a government will now be passed to Evangelos Venizelos, leader of PASOK.

Athens -
President Karolos Papoulias has delivered a speech in which he decried German Finance Minister Wolfgang Schaeuble's insults to Greece. The President said "I cannot accept Mr Schaeuble insulting my country. Who is Mr Schaeuble to insult Greece?

Athens -
As the Greek government rushes to find another 325 million euros of cuts in order to satisfy the lending requirements attached to the next bailout loan, the Greek President will forego his salary.